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The surge could be a good sign showing that investor confidence in the cannabis industry is building going into 2020.
Traders betting against pot stocks made almost $1 billion in 2019. Here are the 8 stocks most responsible for those gains.
So far this year, short exposure to the cannabis sector is up $843 million, or 35%, according to data from financial-analytics provider S3 Partners.
The Marijuana Opportunity Reinvestment and Expungement Act would "allow the sector to take a giant leap forward," said Ben Curren of Green Bits.
That led to stock declines across the board for the marijuana producers. Now, shares of each company are a far cry from highs seen over the last year.
Weed stocks are going nuts after one of the largest marijuana companies strikes a deal for lab-made THC
The partnership will research ways to make cannabinoids — the active ingredients in marijuana — in a lab instead of from plants.
"Yeah right, Diageo would ever do a deal with a company who has a history of contamination and has proven that they cannot even produce a small amount of commercial product," writes Citron. "This is a NON EVENT. Citron feels stupid even discussing this, but it had to get mentioned."